Resolutions-2018-005

Budget Summary <table> <tr> <th></th> <th>2017/18 Adopted Budget</th> <th>2016/17 Re-Estimated</th> <th>2015/16 Actual</th> </tr> <tr> <th colspan="4">Revenues</th> </tr> <tr> <td>Net Property Taxes</td> <td>$1,424,280</td> <td>$1,179,835</td> <td>$983,491</td> </tr> <tr> <td>TIF</td> <td>879,683</td> <td>855,783</td> <td>791,612</td> </tr> <tr> <td>Other City Taxes</td> <td>57,692</td> <td>0</td> <td>0</td> </tr> <tr> <td>License/Permits</td> <td>327,500</td> <td>325,400</td> <td>324,524</td> </tr> <tr> <td>Use of Money & Property</td> <td>33,391</td> <td>21,074</td> <td>44,220</td> </tr> <tr> <td>Intergovernmental</td> <td>2,179,150</td> <td>1,560,152</td> <td>492,969</td> </tr> <tr> <td>Charges for Fees & Services</td> <td>1,502,100</td> <td>1,443,900</td> <td>1,079,508</td> </tr> <tr> <td>Special Assessments</td> <td>0</td> <td>0</td> <td>0</td> </tr> <tr> <td>Miscellaneous</td> <td>181,000</td> <td>63,000</td> <td>879,655</td> </tr> <tr> <td>Other Financing Sources</td> <td>8,784,108</td> <td>736,564</td> <td>5,589,386</td> </tr> <tr> <th>Total Revenues</th> <th>$15,368,904</th> <th>$6,185,708</th> <th>$10,185,365</th> </tr> </table> <table> <tr> <th></th> <th>2017/18 Adopted Budget</th> <th>2016/17 Re-Estimated</th> <th>2015/16 Actual</th> </tr> <tr> <th colspan="4">Expenditures:</th> </tr> <tr> <td>Public Safety</td> <td>$319,034</td> <td>$313,235</td> <td>$306,408</td> </tr> <tr> <td>Public Works</td> <td>294,086</td> <td>208,715</td> <td>406,739</td> </tr> <tr> <td>Health & Social Services</td> <td>0</td> <td>0</td> <td>0</td> </tr> <tr> <td>Culture & Recreation</td> <td>230,395</td> <td>227,882</td> <td>179,693</td> </tr> <tr> <td>Community & Economic Development</td> <td>217,261</td> <td>67,600</td> <td>55,665</td> </tr> <tr> <td>General Government</td> <td>319,991</td> <td>291,776</td> <td>401,911</td> </tr> <tr> <td>Debt Service</td> <td>1,012,710</td> <td>942,760</td> <td>893,964</td> </tr> <tr> <td>Capital Projects</td> <td>7,593,371</td> <td>3,205,000</td> <td>3,529,810</td> </tr> <tr> <td>Enterprise</td> <td>3,052,557</td> <td>751,370</td> <td>1,652,296</td> </tr> <tr> <td>Transfers Out</td> <td>1,484,108</td> <td>736,564</td> <td>1,059,190</td> </tr> <tr> <th>Total Expenditures & Transfers Out</th> <th>$14,523,513</th> <th>$6,744,902</th> <th>$8,485,676</th> </tr> <tr> <td>Revenue & Other Sources Over (Under) Expenditures/Transfers Out</td> <td>845,391</td> <td>(559,194)</td> <td>1,699,689</td> </tr> <tr> <td>Beginning Fund Balance July 1</td> <td>$3,405,295</td> <td>$3,964,489</td> <td>$2,264,800</td> </tr> <tr> <td>Ending Fund Balance June 30</td> <td>$4,250,686</td> <td>$3,405,295</td> <td>$3,964,489</td> </tr> </table> Residential Development There were 165 single-family dwellings and no multi-family dwellings constructed in 2017. The status of residential subdivisions under construction, constructed or planned within the past three years is as follows: <table> <tr> <th>Subdivision Name</th> <th>Total Number of Lots/Units</th> <th>Number of Lots/Units Sold/Completed</th> <th>Remaining Lots/Units Available</th> </tr> <tr> <td>Tiffin Heights East</td> <td>118</td> <td>35</td> <td>83</td> </tr> <tr> <td>Tiffin Heights</td> <td>168</td> <td>128</td> <td>40</td> </tr> <tr> <td>Woodfield Ridge Parts 5, 6, 7</td> <td>71</td> <td>25</td> <td>46</td> </tr> <tr> <td>Prairie West Development</td> <td>96</td> <td>86</td> <td>10</td> </tr> <tr> <td>Willow Ridge Development</td> <td>40</td> <td>0</td> <td>40</td> </tr> </table>